Office Unit with Adaptive Reuse
74 Long Shoals Road, Arden, NC 28704
For Sale
$399,500
Institutional zoning supports consideration of professional office conversion, subject to approvals.
Property Size1,955 SF
Days on Market95
Property Features for 74 Long Shoals Road
General Information
Standard status
Size
Property subtype
Amenities
Additional parcels description:, Parcel Number: 9644-79-2743-00000, Assessed Value: $321,200
Listing ID: CAR4397621, Standard Status: Active, MLS Status: Active, Property Subtype: Office, 3 days on market, Special Conditions: None
Built in 1955
County/Parish: Buncombe
Road Responsibility: Publicly Maintained Road, Road Surface: Paved
Building Details
Building Size
Year Built
Listing Agency:
NAI Beverly-Hanks
(828) 210-3940
Listed By:
Michael Shomper
(828) 551-5388
Source:
Blackstreaminternational
Added: Aug 7
Changed: Nov 8
Last Checked: Nov 8 at 6:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Beverly-Hanks
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Investment Insights
Based on property information with market context.
This 1,437-square-foot property dates to 1955 and is positioned for consideration as a professional office conversion. Its compact scale may suit a small office user seeking an alternative to a conventional office park, subject to required approvals.
Located along Long Shoals Road in Arden, the property is surrounded by commercial uses and offers access to major thoroughfares with nearby connectivity to the I-26 corridor. Institutional zoning provides the framework for evaluating professional office use, subject to applicable approvals.
Located along Long Shoals Road in Arden, the property is surrounded by commercial uses and offers access to major thoroughfares with nearby connectivity to the I-26 corridor. Institutional zoning provides the framework for evaluating professional office use, subject to applicable approvals.
Key Highlights
- ±1,437 SF of existing space
- Institutional zoning with professional office conversion subject to approvals
- Located at 74 Long Shoals Road in Arden, NC 28704
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,272
Cap Rate
9.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,440
$725.4K
Cap Rate 7%
$518,171
$518.2K
Cap Rate 9%
$403,022
$403.0K
Market Conditions
NOI Build-Up for 1,955 SF
Gross rent
$49.5K $25.32/SF
− Vacancy
−$1.1K −$0.58/SF
EGI
$48.4K $24.74/SF
− OpEx
−$12.1K −$6.18/SF
NOI
$36.3K $18.55/SF
Area
Buncombe County, NC
Vacancy
2.30%
Lease Rate
$25.32 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$725,440
Cap Rate 7%
$518,171
Cap Rate 9%
$403,022
Alternative Uses
Best Use
Office B
$518.2K
$453.4K – $604.5K
NOI $36,272 @ 7.0% cap · market cap 9.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$618.2K
$540.9K – $721.2K
NOI $43,274 @ 7.0% cap · market cap 10.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
Explore this area
Business Placement
Demographics for 28704, NC
23,734
Population
11,514
Households
2.1
Avg Household Size
39
Median Age
41%
College-Educated
92%
High-School Grad
30.1 sq mi
ZIP Area
789
Density / Sq Mi
$79,088
Median Household Income
$39,072
Median Earnings
$1,369
Median Rent
$343,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Buncombe County, NC
Properties on Market for Office Units in Buncombe County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Institutional zoning supports consideration of professional office conversion, subject to approvals.
Where is this office unit located?
The property is located at 74 Long Shoals Road Arden, NC.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: ±1,437 SF of existing space; Institutional zoning with professional office conversion subject to approvals; Located at 74 Long Shoals Road in Arden, NC 28704
